Financing of Risk

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$430.00
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Instruction Hours 20
Topics Financing of Risk
Programs Certified Risk Managers (CRM)
Start Date Jul 30, 2018
End Date Aug 27, 2018
Learning Options Online Instructor-Led

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Topics Covered: covered

  • Introduction to Financing Risk
  • Quantitative Analysis Tools and Methods
  • Simple Transfer Options
  • Loss-Sensitive Transfer Options
  • Alternative Transfer Options
  • Actuarial, Accounting, and Auditing Perspectives
  • Case Study
     
Accommodations not applicable for Online Courses.

Financing of Risk

Financing of risk can be an intricate and complex task. In this course, you will compare the various financing options presented: non-insurance transfer, guaranteed cost plans, retro plans, dividend plans, pools, and various types of captives. You will learn how to deliver the message to management in present value dollars. We recommend that this course follow Analysis of Risk.

Topics Covered: covered

  • Introduction to Financing Risk
  • Quantitative Analysis: Tools and Methods
  • Simple Transfer Options
  • Loss-Sensitive Transfer Options
  • Alternative Transfer Options
  • Actuarial, Accounting, and Auditing Perspectives
  • Case Study
     
Faculty

Faculty Name

David Hershey

Bio Detail

David Hershey is the Corporate Risk Manager for Sprague Operating Resources, LLC and Lexa International. Collectively, a $5+ Billion (USA) and $5+Billion European global diverse organization consisting of petroleum wholesale and distribution, wastewater treatment equipment manufacturing, lumber recycling, medical product manufacturing, residential water purification and softening equipment manufacturing, college student housing, telecommunications, petrochemical, food, lifting equipment, pump manufacturing, bearing & transmission manufacturing, auto parts distribution and the exclusive European distributor of Fuji film. Prior experience includes the role of Risk Manager for Sotheby Holdings, NYC one of the world's premier auction houses and Day & Zimmermann, a large international military contractor providing base and supply support services. David is current President of the Massachusetts RIMS Chapter, Board Member of the NH CPCU, a published author of several pollution coverage and insurance related articles such as Finite Risk, The Risk Management of Brownfields, Pollution Liability Coverage Loopholes, Maritime Employers Liability, Indemnitees, Additional Insured and the Insurance Certificate. Other accomplishments include being a finalist as the manager of the Workers' Compensation Best Managed Workers' compensation Program sponsored by National Underwriter and recipient of the 2014 Risk Management All Star and the Risk Manager Responsibility award by Risk & Insurance and Liberty Mutual. Other notable accomplishments include instructor of insurance related courses and the Insurance Library of Boston and the Philadelphia Insurance Library, expert witness, past Board Member of RIMS External Affairs Committee, current member RIMS Standards & Practices Committee, 2009 winner of Zurich Award for largest decrease in WC claims, co-author of RIMS Claims Handling Guidebook for Risk Managers, current member of the Association of Certified Fraud Examiners, and proficiency in nuclear liability, munitions manufacturing and international coverage placement and coordination, large casualty, program agreement negotiation, risk financing and pollution coverage.

Faculty Name

Peter Cross

Bio Detail

Peter Cross has a Masters in Risk and Insurance Management at Boston University, a Bachelor of Commerce degree from the University of Tasmania Australia in finance and accounting, and holds the insurance industry designations CPCU, Chartered Property & Casualty Underwriter, ARM - Associate Risk Management (ERM/RMPE) and ARe Associate in Reinsurance from the American Institute for Chartered Property Casualty Underwriters & CIC - Certified Insurance Counselor and CRM - Certified Risk Manager from The National Alliance for Insurance Education & Research. He is currently working toward completing his Associate in Insurance Data Analytics (AIDA). For a decade and a half, Peter worked extensively in derivatives and trading of various underlying securities both in the USA and internationally. During the last 15 years, he has been working in the insurance and risk management field. Insurance & Risk management has him looking to balance various financial, risk, operational and strategic objectives for clients as part of a management engagement process working with the c suite of firms. Peter conducted this practice as a successful insurance agency owner for over a decade in Southern California until the end of 2014. He now works with Aon in Dallas Texas working with a focus on larger and complex clients that predominately look to use financing of risk approaches as noted in this course. Working on clients with large retentions, single and group captives through to CAT Bond opportunities for a select few. The approach to clients is an actionable analytics focus that allows clients to consider analytics for P&C plus Health & Benefits issues that have both national and international exposures to be managed.

Faculty Name

Mary Lynn Bangs

Bio Detail

Mel Bangs is the retired Director of Risk Management for Omni Hotels in Irving, Texas. She has 30 plus years of experience in the Risk Management profession of which 25 years has been in the hotel industry. Her prior experience includes Wyndham Hotel International and Blockbuster Entertainment. She was also Vice President of Risk Services at MHBT, a retail broker in Texas. Until retirement, Mel was an active member of the Risk and Insurance Management Society having held local and national positions. She is a past President of the DFW chapter and was Vice Chair and Chair of the National Conference Programming Committee. She also held the office of Secretary on the Board of Directors of Spencer Educational Foundation. She has been a Risk Manager in Residence for Ball State University, University of Calgary, Katie School of Insurance at Illinois State, University of Louisiana at Lafayette and La Salle University. She also taught ARM 54 in the Dallas area for 10 years. She has a Bachelor of Sciences degree in Business Management and holds the designations of Associate in Risk Management (ARM) and CRM.